Accounting. Costs: concept and classification (the most important)

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Accounting. Costs: concept and classification (the most important)

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68. Costs: concept and classification

Organization expenses - decrease in economic benefits as a result of the disposal of assets (cash, other property) and (or) the emergence of liabilities, leading to a decrease in the capital of this organization, with the exception of a decrease in contributions by decision of the participants (property owners).

The expenses of the organization are divided depending on their nature, conditions of implementation and activities of the organization.

1. Expenses for ordinary activities.

2. Operating expenses.

3. Non-operating expenses.

Other expenses costs are considered other than the costs of ordinary activities. Other expenses also include emergency expenses.

Expenses for ordinary activities are the costs associated with the manufacture of products and the sale of products, the acquisition and sale of goods. Such expenses are also considered expenses, the implementation of which is associated with the performance of work, the provision of services.

Expenses for ordinary activities form expenses associated with the acquisition of raw materials, materials, goods and other inventories, etc.

When forming expenses for ordinary activities, they should be grouped according to the following elements:

▪ material costs;

▪ labor costs;

▪ contributions for social needs;

▪ depreciation;

▪ other costs.

Operating expenses are:

▪ expenses associated with the provision of temporary use (temporary possession and use) of the organization's assets for a fee;

▪ costs associated with the provision for a fee of rights arising from patents for inventions, industrial designs and other types of intellectual property;

▪ expenses associated with participation in the authorized capitals of other organizations;

▪ expenses associated with the sale, disposal and other write-off of fixed assets and other assets other than cash (except foreign currency), goods, products;

▪ interest paid by an organization for providing it with funds (credits, loans) for use;

▪ expenses related to payment for services provided by credit institutions;

▪ contributions to valuation reserves created in accordance with accounting rules (reserves for doubtful debts, for depreciation of investments in securities, etc.), as well as reserves created in connection with the recognition of contingent facts of economic activity;

▪ other operating expenses.

Non-operating expenses are:

▪ fines, penalties, penalties for violation of contract terms;

▪ compensation for losses caused by the organization;

▪ losses of previous years recognized in the reporting year;

▪ the amount of receivables for which the statute of limitations has expired, and other debts that are unrealistic for collection;

▪ exchange rate differences;

▪ amount of asset depreciation;

▪ transfer of funds (contributions, payments, etc.) related to charitable activities, expenses for sporting events, recreation, entertainment, cultural and educational events and other similar events;

▪ other non-operating expenses.

As part of emergency expenses reflect expenses that arise as a consequence of extraordinary circumstances of economic activity.

Author: Kabkova E.N.

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